Practically everyone who lives in the United States is familiar with the biblical story of the "three wise men". I pray that the descendents of those three scholarly gentleman awake soon to add some sanity to our countries energy program. But wait, we truly do not have a comprehensive, well thought out energy policy!  We seem to skip from one poorly conceived concept to another. Many of these programs only survive when they receive significant tax credits or are the benefactor of seed money from the government. It is obvious to me that the shale plays in this country are affording us an opportunity to become energy independent if the decision-makers in this country elect to do the right thing. Natural gas prices are at record lows due to the current glut and increased drilling activity so as to hold  land by production. Many wells are currently being shutin because they are not economically productive at the current depressed prices. This is a consequence of our free market system which I believe to be a good thing in the long run. However. I also strongly believe the gas industry will suffer irreparably if the feds do away with the current ability to expense intangible drilling cost and offset royalty payments by virtue of the depletion allowance. It appears as though that is sadly what is about to happen in the next two months. I would suggest it is imperative that we get all concerned and that includes landowners, royalty owners, and all those involved in the oil and gas industry to convey the message that the feds had better maintain the percentage depletion allowance if natural gas is to remain an affordable source of energy within this country. The idea that in the lame duck we could see the domestic oil and gas tax breaks get repealed would result in a bad consequence to this country.

Please join me by making calls to Speakers and state Senators and Congressman or stop any repeal of the current oil and gas tax advantages, especially for the individual taxpayers of this country.. For further details see the following:

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